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Wynn Resorts: Chinese roulette?
20.05.12
But because of a disagreement over Mr. Okada’s plans to build a gambling resort in the Philippines, thereby becoming a regional competitor, accusations of misconduct are flying back and forth. The Wynn Resorts board has voted to redeem Mr. Okada’s stake at 30 per cent below the current share price, over a 10-year period. If Mr. Okada can be forced to accept these terms, Wynn Resorts shareholders will be delighted. They become the beneficiaries of a very cheap share buy-back. But there will be a long legal wrangle, or a pricier settlement, before the last mud is slung. Wynn’s management has, at least, successfully set the terms of the dispute. The fight is, for now, about whether Mr. Okada must accept a discount, not whether he can demand a premium. Well played.
But should the conflict make smaller investors in Wynn Resorts nervous? If the prospect of bare knuckled business practices makes any of them jumpy, it is curious that they put their money to work in the casino industry. And if they are inclined to think about risks, they should think about business fundamentals first.
Source: Globe and Mail
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Foxwoods Resort & Casino installs 12 EZ Products
PR Newswire (press release) - Apr 20, 2011
This is a world renowned property that boasts 57 baccarat tables and debuting with six (6) EZ Baccarat ™ and six (6) EZ Trak ™ is a great start. As in other large casino baccarat operations, we expect that the EZ Baccarat footprint will increase as
Vegas casinos aim to let guests gamble online from their hotel room
Denver Post - Apr 25, 2011
The casino-issued gambling tablets, which feature sports betting and table games such as Baccarat and Blackjack, already are available for play at some casinos, including the M Resort Spa Casino and the Venetian. But they're currently restricted to
VIP baccarat rules uncontested uncontested
Macau Daily Times - Apr 19, 2011
Cotai resort Galaxy Macau, opening May 15, will focus mostly on the mass market, the middle-class Chinese. Mass market baccarat was the second most profitable business for the gaming sector, with gross revenues of MOP 10.6 billion, up 32.2 percent
Workers Putting Finishing Touches On Casino's Hotel, Mall
WFMZ Allentown - Apr 21, 2011
It will feature 17 additional roulette, blackjack, and baccarat tables. "That's part of our new 29 tables which will be opening up on May 27, bringing our grand total to 129 tables here at the Sands," said Sands president Bob DeSalvio.
